Loan Comparison: 2.81% vs 6.5%
3725 Saints, Colorado Springs, CO 80904 · 3bd/3ba · $755,000
List Price
$755,000
Assumable Rate
2.81%
Remaining Balance
$307,274
Equity Gap
$447,726
Loan Type
VAAdjust Your Scenario
$37,750
$37,750$447,726
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.81% (VA)
Blended Rate: 6.06%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,534/moAssumable @ 2.81% + gap loan
$4,417/moAssumed loan: $1,264/mo
Gap financing: $3,152/mo
$117less per month with the assumable
Your Savings on This Property
3725 Saints, Colorado Springs · 2.81% VA vs 6.5% conventional
$117
per month
$1,403
per year
$42,099
over 30 years
$42,099
interest saved
How gap financing works: The equity gap ($447,726) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($37,750, 5% of purchase price) and a second mortgage for the rest ($409,976 at 8.5%). Even with two payments, the blended cost is typically much lower than a new conventional loan. We work with lenders who specialize in assumption gap financing.
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